Shares of Alcon Inc. (ALC) plunged 6.58% in trading on Wednesday following the release of disappointing first-quarter results and reduced full-year guidance. The eye care company's performance fell short of analyst expectations, raising concerns about its near-term growth prospects.

Alcon reported first-quarter core diluted earnings per share of $0.73, missing the consensus estimate of $0.75 and declining from $0.78 in the same period last year. Revenue for the quarter came in at $2.45 billion, slightly below the expected $2.51 billion. While this represented a marginal increase from $2.44 billion a year earlier, it failed to meet market expectations.

Adding to investor worries, Alcon lowered its full-year 2025 outlook. The company revised its core diluted EPS guidance to $3.05-$3.15, down from the previous range of $3.15-$3.25. Additionally, Alcon updated its revenue forecast for 2025 to $10.4-$10.5 billion, compared to the earlier projection of $10.2-$10.4 billion. Both revisions fell short of analyst expectations of $3.31 EPS and $10.63 billion in revenue.

The company cited several factors impacting its performance, including a "soft US market" and increased investment in research and development. Alcon also noted that its updated outlook incorporates a gross tariff impact of approximately $80 million, which is expected to pressure the cost of net sales. These challenges have clearly rattled investors, leading to the significant stock price decline.